DFX Intelligence

Allocator Intelligence

The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.

Corporate pension

The Burger King Retirement Plan

Corporate pensionMiami, FL
Assets
$121M
Total assets, Dec 31, 2024 reported
Funded
86.3%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
13
none on the tape
Plan sponsor: Burger King Corporation
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Common/collective trusts 50.8%
  • Registered investment companies 48.3%
Consultants and advisers
4 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
2 managers on the commitment tape
From the plan’s own commitment disclosures
From Schedule C (investment management, code 28)
Commitments
13 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Dec 31, 2024Ishares 1-5y Inv Grade Corpcollective trustBlackrock Investments, LLCPooled vehicles$12.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Ishares 10+ Year Inv Grade Corpcollective trustBlackrock Investments, LLCPooled vehicles$11.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Ishares 10-20 Year Treasurycollective trustBlackrock Investments, LLCFixed income$5.8M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Ishares 5-10y Inv Grade Corpcollective trustBlackrock Investments, LLCPooled vehicles$18.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Ishares Core 10+ Year Usd Bocollective trustBlackrock Investments, LLCPooled vehicles$11.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ishares 1-5y Inv Grade Corpcollective trustBlackrock Investments, LLCPooled vehicles$12.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ishares 10+ Year Inv Grade Corpcollective trustBlackrock Investments, LLCPooled vehicles$12.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ishares 10-20 Year Treasurycollective trustBlackrock Investments, LLCFixed income$6.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ishares 5-10y Inv Grade Corpcollective trustBlackrock Investments, LLCPooled vehicles$18.9M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ishares Core 10+ Year Usd Bocollective trustBlackrock Investments, LLCPooled vehicles$12.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022US High Yield Bond Indexcollective trustFrank Russell Trust CompanyFixed income$12.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Russell Small/mid Cap Indx Nl Sfcollective trustState Street - Russell 2000Pooled vehicles$7.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Tuckerman Glbl Real Est Sec Indx Nlcollective trustState Street Global Advisors TrustPooled vehicles$5.9M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$121M Dec 31, 2024 reported Form 5500
$120M (2023-12) · $115M (2022-12)
Plan assets
$120M Jan 1, 2024 reported Form 5500
$115M (2023-01) · $155M (2022-01)
Net assets
$121M Dec 31, 2024 reported Form 5500
$120M (2023-12) · $115M (2022-12)
Funded ratio
86.3% Jan 1, 2024 reported Form 5500
79.5% (2023-01) · 102.5% (2022-01)
Funding target
$139M Jan 1, 2024 reported Form 5500
$141M (2023-01) · $144M (2022-01)
Discount rate
5.03% Jan 1, 2024 reported Form 5500
5.17% (2023-01) · 5.35% (2022-01)
Participants
1,093 Jan 1, 2024 reported Form 5500
1,099 (2023-01) · 1,152 (2022-01)
Contributions
$3.1M Dec 31, 2024 reported Form 5500
$885,967 (2023-12) · $0 (2022-12)
Benefits paid
$9.9M Dec 31, 2024 reported Form 5500
$9.6M (2023-12) · $9.5M (2022-12)
Net investment income
$905,215 Dec 31, 2024 reported Form 5500
$5.0M (2023-12) · $-39.8M (2022-12)
Investment management fees
$88,597 Dec 31, 2024 reported Form 5500
$112,480 (2023-12) · $590,683 (2022-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 20241,093$120M$139M86.3%$121Mn/an/an/a
2023 to Dec 31, 20231,099$115M$141M79.5%$120Mn/an/an/a
2022 to Dec 31, 20221,152$155M$144M102.5%$115Mn/an/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
13 events
  • Dec 31, 2024Consultant changedinference
    Merrill Lynch appears on The Burger King Retirement Plan's Schedule C as general consultant (plan year 2024 vs 2023)
    with Merrill Lynch,pierce,fenner & Smithaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    State Street Bank and Trust no longer appears on The Burger King Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with State Street Bank & Trust Companyaskebsa.dol.gov
  • Jan 1, 2024Funded status changed
    The Burger King Retirement Plan funded ratio 79.5% -> 86.3% (2023-01-01 to 2024-01-01)
    askebsa.dol.gov
  • Dec 31, 2023Holding started
    The Burger King Retirement Plan first reports an interest in Ishares 1-5y Inv Grade Corp: $13M at 2023-12-31
    with Ishares 1-5y Inv Grade Corpaskebsa.dol.gov
  • Dec 31, 2023Holding endedinference
    The Burger King Retirement Plan no longer reports Russell Small/mid Cap Indx Nl Sf (State Street - Russell 2000) (last held $7M at 2022-12-31; absent from the 2023-12-31 filing)
    with State Street - Russell 2000askebsa.dol.gov
  • Dec 31, 2023Holding endedinference
    The Burger King Retirement Plan no longer reports US High Yield Bond Index (last held $12M at 2022-12-31; absent from the 2023-12-31 filing)
    with US High Yield Bond Indexaskebsa.dol.gov
  • Dec 31, 2023Holding started
    The Burger King Retirement Plan first reports an interest in Ishares 5-10y Inv Grade Corp: $19M at 2023-12-31
    with Ishares 5-10y Inv Grade Corpaskebsa.dol.gov
  • Dec 31, 2023Holding endedinference
    The Burger King Retirement Plan no longer reports Tuckerman Glbl Real Est Sec Indx Nl (State Street Global Advisors Trust) (last held $6M at 2022-12-31; absent from the 2023-12-31 filing)
    with State Street Global Advisors Trustaskebsa.dol.gov
  • Dec 31, 2023Holding started
    The Burger King Retirement Plan first reports an interest in Ishares Core 10+ Year Usd Bo: $13M at 2023-12-31
    with Ishares Core 10+ Year Usd Boaskebsa.dol.gov
  • Dec 31, 2023Holding started
    The Burger King Retirement Plan first reports an interest in Ishares 10-20 Year Treasury: $6M at 2023-12-31
    with Ishares 10-20 Year Treasuryaskebsa.dol.gov
  • Dec 31, 2023Holding started
    The Burger King Retirement Plan first reports an interest in Ishares 10+ Year Inv Grade Corp: $13M at 2023-12-31
    with Ishares 10+ Year Inv Grade Corpaskebsa.dol.gov
  • Jan 1, 2023Funded status changed
    The Burger King Retirement Plan funded ratio 102.5% -> 79.5% (2022-01-01 to 2023-01-01)
    askebsa.dol.gov
  • Jan 1, 2023Assets changed
    The Burger King Retirement Plan plan assets $155M -> $115M (-25.7%, 2022-01-01 to 2023-01-01)
    askebsa.dol.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 590787929-004
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.